Tenants

vr7

Have an issue where tenants have asked for a rent reduction.

A family of 4 live in the property which comprises of 2 adults and 2 kids. They are great tenants who look after the property and never miss a payment. 1 of the adults has lost their job due to covid 19.

Should I reduce rent wit a review after a few months, freeze rent and look for all arrears to be paid once covid issue is over.

Any help would be appreciated.

overkill602

if people get laid off the state is ponying up at the moment but longer term a rent supplement is available under the HAP scheme.
So OP its the tenants responsibility to seek advice from SW to make up the difference.
Perhaps allowing them some space to get the support in place allow 1 month of arrears to be paid off later.
nobody knows how long or severe this will be it could effect you somewhere down the line.

Enter name here

Like most tenants they are just chancing their luck.

In short NO. It's hard enough in this country with the current laws to get any form of protection, if they don't like it offer them a well written reference and wish them luck in their search for new premises.

My expenses have gone up in the current climate, my tenants now at home more often causing unwanted wear and tear on my investments, will I be compensated for the extra wear and tear, not on your life.

antix80

Pure chancers. They're probably receiving the covid payment and saving on childcare.

Considering the 2 previous posts, it must be wonderful to live in such black and white worlds....

Everything in the OP is reasonable but the last 2 replies are perfect examples of everything that is wrong with the current rental market

Blood suckers.

bigpink

If one good thing of this Covid19 i hope it ruins nasty smug landlords

StevieHardesty

StevieHardesty wrote: »

Considering the 2 previous posts, it must be wonderful to live in such black and white worlds....

Everything in the OP is reasonable but the last 2 replies are perfect examples of everything that is wrong with the current rental market

Blood suckers.

There’s not a thing wrong with the replies. What does the landlord do for the income then? Or is it just feck them?

neckedit

ReginaldSmythV wrote: »

There’s not a thing wrong with the replies. What does the landlord do for the income then? Or is it just feck them?

Are landlords not getting a break in their mortgage repayments?

As for the extra wear and tear.... have you ever heard such rubbish.

Del2005

StevieHardesty wrote: »

Considering the 2 previous posts, it must be wonderful to live in such black and white worlds....

Everything in the OP is reasonable but the last 2 replies are perfect examples of everything that is wrong with the current rental market

Blood suckers.

And the tenants pushing the landlords for rent reductions aren't the same?

With the RPZ legislation a landlord would be crazy to give any discount to a tenant, plenty got stung for being nice to tenants when the legislation was brought in. Now they are just being professional, which people wanted, and dealing with cold business logic by trying to make the most of their investment.

"..As for the extra wear and tear.... have you ever heard such rubbish..."

+1

I've seen and heard some crap from landlords (and tenants) - that really is the limit.

As for the other comment that they're "saving on childcare", does the poster there not realise most creches are still charging to retain places?

I really do hope those 2 replies are trolling - but, somehow, I doubt it

neckedit

neckedit wrote: »

Are landlords not getting a break in their mortgage repayments?

As for the extra wear and tear.... have you ever heard such rubbish.

The tenant will be getting the whack off the government too.

neckedit

ReginaldSmythV wrote: »

The tenant will be getting the whack off the government too.

A whack off the Government?
Really? I've been laid off, thankfully only temporarily.
And I am grateful for the "Whack" off the government of 350 a week, I genuinely am.. I'm down 200e plus a week.
Car insurance still due, car tax still due, health and life insurance still due, food Bill's, heat and electricity still due. While you may think with the "whack " from the Government we are all sitting in baths of Champagne and having caviar as a starter every night I can assure you I'm not.
If a bank passes on let's say a saving of 30% nett a month to a landlord, surely that could be passed on to a tenant who has lost their Job? Its cost neutral to the landlord and you know it shows a bit of f**king humanity.

antix80

neckedit wrote: »

Are landlords not getting a break in their mortgage repayments?

Actually, no.. If they avail of the "break" their mortgage payments will increase for the rest of the mortgage.

Tenants aren't allowed to move at present and the government are providing support. Id suggest telling the tenants to wait and see. If they're unable to pay the full amount let them fall into arrears. It may be a case you write off the arrears but a change in the lease giving a 20% reduction in rent.. Ffs, at least get some legal advice.

neckedit

antix80 wrote: »

Actually, no.. If they avail of the "break" their mortgage payments will increase for the rest of the mortgage.

Tenants aren't allowed to move at present and the government are providing support. Id suggest telling the tenants to wait and see. If they're unable to pay the full amount let them fall into arrears. It may be a case you write off the arrears but a change in the lease giving a 20% reduction in rent.. Ffs, at least get some legal advice.

Well.. actually... yes... it is a break... the payments will go up slightly. If you work it out over the period there will be a saving. I've done it with my own.

Enter name here

StevieHardesty wrote: »

Considering the 2 previous posts, it must be wonderful to live in such black and white worlds....

Everything in the OP is reasonable but the last 2 replies are perfect examples of everything that is wrong with the current rental market

Blood suckers.

Considering your post, is the exact reason I show no compassion to my tenants. People like you expect LL's to support you, we are not your bank nor family.

lawred2

antix80 wrote: »

Pure chancers. They're probably receiving the covid payment and saving on childcare.

Miserable sod

Great tenants, look after the property etc etc and one of them is genuinely out of work

All the words of the OP

"Chancers"

Hubertj

OP have a read of this. Probably give you more balanced advice than what you get on boards...

https://www.irishtimes.com/life-and-style/homes-and-property/what-happens-if-a-tenant-can-t-pay-rent-during-the-covid-19-crisis-1.4217029

handlemaster

bigpink wrote: »

If one good thing of this Covid19 i hope it ruins nasty smug landlords

How so ?

pwurple

I gave my residential tenants temporary rent breaks where their work was impacted by COVID19. I spoke to the bank about it on my side and have had the mortgage reduced for a few months (went to interest only). Passed that onto the tenant as a reduction. No, I don't expect them to repay it afterwards.

Commercial tenants who had to shut the business, same, I paused the rents there too. They will still have rates due. Otherwise I would be putting them out of business.

People are under huge pressure, I feel it myself with a young family and having to set up a home office etc.

I say do what you can. It's a short term situation.

Enter name here

And yes with tenants staying home, there is considerable wear and tear on my properties. Is the government going to offer me a handout to cover the extra losses on my properties. I think not.

Extra wear and tear on things like carpets, furniture, boilers, hot water systems just to name a few.

Mad_maxx

Depends on whether they are paying market rent but i don't see much wrong with them asking.

OP isn't obliged to agree but things have quite obviously changed out there

handlemaster

The plan from the next government is to add more legislation against the landlords. If the state wants to pony up and pay the rent so be it but Landlords are running a business . Ok one of the tenants has lost their job. Doesn't mean that their money that they bring in goes to zero.

There are welfare payment for that.

OP have the tenants provided proof of job loss and have shown how much they will get from welfare?

On another thread here a LL had tenants pull this one as well when the landlord asked for this , they then said that they would pay the rent in full... I.e. running a con.

neckedit

neckedit wrote: »

Are landlords not getting a break in their mortgage repayments?

As for the extra wear and tear.... have you ever heard such rubbish.

A break? Yes, but it is short term and the full mortgage must be repaid, including interest on the break period.

A reduction on the other hand has the immediate effect of reduced rental return, and the long term effect of the LL being locked on that rent level when calculating future increases within RPZ regs.

I don’t see any problem with the tenant asking, but I also don’t think the op has a moral obligation to grant the request. He/she still has a mortgage to pay.

bigpink

bigpink wrote: »

If one good thing of this Covid19 i hope it ruins nasty smug landlords

Pushing more of them out of the sector? How does this benefit tenants in your opinion.

PhilOssophy

Neither renter or landlord here.

If they have lost their job, shouldn't they be able to prove it to you? If they can, and you are in a position OP to do so, I would say give them a break. It sounds like they are decent tenants who have fallen on hard times. If you need to take a holiday from the bank to help them out, I would say do it.

We are all in this together, it is tough for everyone at the moment but sacrifices are being made all round.

(To the other poster, imagine being such a moron to think that tenants at home all day are causing more wear and tear on your property! What do you do, lock them out until 5.30 at the moment in case they happened to walk on the carpet for an extra few minutes every day? I know plenty of people renting, and their apartments have never been cleaner because they are never out of the place, did you ever think of that?)

lcwill

Enter name here wrote: »

And yes with tenants staying home, there is considerable wear and tear on my properties. Is the government going to offer me a handout to cover the extra losses on my properties. I think not.

Extra wear and tear on things like carpets, furniture, boilers, hot water systems just to name a few.

I'd say this is grasping at straws.

If your investments are run on such thin margins that a slight reduction in the life expectancy of a carpet is a risk to your business then you have a problem. I wouldn't want to be the tenant of a landlord who is living so close to the edge, God forbid the fridge breaks down.

I pre-emptively wrote to my tenants at the start of the lockdown and put them on half rent until things improve. One had already had his work cut back, and for the others it is a chance to get ready for the worst.

I am in a pretty good position to weather the storm and didn't want to put tenants under pressure to take risks with their health or with anyone else's health for the sake of my bottom line.

I have low leverage and it's not my main source of income so I could do it. Any one else who is in a position to help people out during an unprecedented crisis should also do it, without worrying they are being taken for a mug.

If, rather than expressing sympathy or solidarity, my landlord accused me of wearing his sofa out more quickly because I was sitting at home unemployed for a few months, I'd be looking at all those nice ex-Airbnb places that are coming available and getting ready to move out as soon as I could.

neckedit

Enter name here wrote: »

And yes with tenants staying home, there is considerable wear and tear on my properties. Is the government going to offer me a handout to cover the extra losses on my properties. I think not.

Extra wear and tear on things like carpets, furniture, boilers, hot water systems just to name a few.

Ok, let's put a number on this. Lets say this situation is a 3 month thing. How much more are you going to spend?
Are you going around to your properties after this to inspect them and if the carpet is tread bare from the extra traffic will you replace on the spot? If the springs on the sofa are gone will you replace? Will you come in and get all the boilers serviced cause if this extra wear and tear? I wager none of this will happen.

But indulge me, put a figure on it?

Enter name here

lcwill wrote: »

I'd say this is grasping at straws.

If your investments are run on such thin margins that a slight reduction in the life expectancy of a carpet is a risk to your business then you have a problem. I wouldn't want to be the tenant of a landlord who is living so close to the edge, God forbid the fridge breaks down.

I pre-emptively wrote to my tenants at the start of the lockdown and put them on half rent until things improve. One had already had his work cut back, and for the others it is a chance to get ready for the worst.

I am in a pretty good position to weather the storm and didn't want to put tenants under pressure to take risks with their health or with anyone else's health for the sake of my bottom line.

I have low leverage and it's not my main source of income so I could do it. Any one else who is in a position to help people out during an unprecedented crisis should also do it, without worrying they are being taken for a mug.

If, rather than expressing sympathy or solidarity, my landlord accused me of wearing his sofa out more quickly because I was sitting at home unemployed for a few months, I'd be looking at all those nice ex-Airbnb places that are coming available and getting ready to move out as soon as I could.

My properties are owned outright, so no risk to my business nor income stream. And I make no bones about it, in this current climate and the laws to protect the tenant and barely any to protect my investments I make no concessions. I ask this of you, buying a new car are you going to pay the same price for the demo in yard or take it on the chin just because it has had a few kms put on it.

PhilOssophy

PhilOssophy wrote: »

Neither renter or landlord here.

If they have lost their job, shouldn't they be able to prove it to you? If they can, and you are in a position OP to do so, I would say give them a break. It sounds like they are decent tenants who have fallen on hard times. If you need to take a holiday from the bank to help them out, I would say do it.

We are all in this together, it is tough for everyone at the moment but sacrifices are being made all round.

(To the other poster, imagine being such a moron to think that tenants at home all day are causing more wear and tear on your property! What do you do, lock them out until 5.30 at the moment in case they happened to walk on the carpet for an extra few minutes every day? I know plenty of people renting, and their apartments have never been cleaner because they are never out of the place, did you ever think of that?)

As famously said by Polonius, neither a borrower Nor a lender be.

You are in a lucky situation, which makes it easy for you to be generous with other people’s money. You can’t take a holiday from the bank, payments are just suspended for 3 months, but interest accrues over the remainder of the term, and the 3 months mortgage has to be paid back.

davindub

pwurple wrote: »

I gave my residential tenants temporary rent breaks where their work was impacted by COVID19. I spoke to the bank about it on my side and have had the mortgage reduced for a few months (went to interest only). Passed that onto the tenant as a reduction. No, I don't expect them to repay it afterwards.

Commercial tenants who had to shut the business, same, I paused the rents there too. They will still have rates due. Otherwise I would be putting them out of business.

People are under huge pressure, I feel it myself with a young family and having to set up a home office etc.

I say do what you can. It's a short term situation.

This.

A little bit of decency goes a long way at times like this taking a hard line is likely to cost you more between the cost and time involved involved with evicting tenants, the outlook of a recession in the short term at least. Now is the time to be holding onto decent tenants.....

Enter name here

neckedit wrote: »

Ok, let's put a number on this. Lets say this situation is a 3 month thing. How much more are you going to spend?
Are you going around to your properties after this to inspect them and if the carpet is tread bare from the extra traffic will you replace on the spot? If the springs on the sofa are gone will you replace? Will you come in and get all the boilers serviced cause if this extra wear and tear? I wager none of this will happen.

But indulge me, put a figure on it?

Yes all my properties are inspected every 3 months, repairs are carried out immediately as needed. And yes being home all the time shortens the life span of items and services in the property. It's not a matter of how much i need to spend it's a matter now i have a shorter life span on those items meaning they will have to be replaced or serviced much sooner than previously.

kippy

Enter name here wrote: »

And yes with tenants staying home, there is considerable wear and tear on my properties. Is the government going to offer me a handout to cover the extra losses on my properties. I think not.

Extra wear and tear on things like carpets, furniture, boilers, hot water systems just to name a few.

The other option is to evict them and face less wear and tear?
Do landlords not have wear and tear priced in to rents?

neckedit

Enter name here wrote: »

My properties are owned outright, so no risk to my business nor income stream. And I make no bones about it, in this current climate and the laws to protect the tenant and barely any to protect my investments I make no concessions. I ask this of you, buying a new car are you going to pay the same price for the demo in yard or take it on the chin just because it has had a few kms put on it.

First of all let me say congrats on your success and owning all you own properties with no mortgages on them. That's pretty cool and I respect that.

That been said, you are in a phenomenal position to help a few people out if they need it and can prove this to you.
But you would choose not too over extra wear and tear in your investments.

Good luck counting your millions.

Enter name here

neckedit wrote: »

First of all let me say congrats on your success and owning all you own properties with no mortgages on them. That's pretty cool and I respect that.

That been said, you are in a phenomenal position to help a few people out if they need it and can prove this to you.
But you would choose not too over extra wear and tear in your investments.

Good luck counting your millions.

As i said I am neither your bank or family. Why do you and many others consider it a LL's responsibility to support you? I am genuinely intrigued by this. Is your supermarket offering you money off your shopping, is your garage offering you money off your fuel, is your health fund offering you cheaper premiums?
When other industries take such action then I may reconsider my position, until then it remains the same.

mrslancaster

pwurple wrote: »

I gave my residential tenants temporary rent breaks where their work was impacted by COVID19. I spoke to the bank about it on my side and have had the mortgage reduced for a few months (went to interest only). Passed that onto the tenant as a reduction. No, I don't expect them to repay it afterwards. ...

Just wondering how this works.

Afaik if there's any change in the tenancy it should be notified to RTB & that includes a change to the rent amount.
Does that mean the rent can't be increased back after Covid19 as according to the RTB records it would not comply with the 12 month & 4% rule?

is it not necessary to register any change with RTB during this?

Grumpypants

It depends on your own situation. If you can give a reduction and want to, then do. But remember if you take a mortgage break your mortgage increases. Either your payments or time increases either way it costs you.

If one of them lost their job they are getting the covid payment which is €350 a week (x 5 weeks) is €1750 tax free a month. And the second person is working. So even on modest a 27k is bringing in 2k a month.

So if a family with 3750 incoming and only 2.5k going out on bills and rent and saving hundreds on childcare are "struggling", think about it.

neckedit

neckedit wrote: »

First of all let me say congrats on your success and owning all you own properties with no mortgages on them. That's pretty cool and I respect that.

That been said, you are in a phenomenal position to help a few people out if they need it and can prove this to you.
But you would choose not too over extra wear and tear in your investments.

Good luck counting your millions.

It is easy, and hard to resist, the feeling of being morally superior when it comes to what you think other people should do with their money in situations like this. The op has a mortgage to pay, that is what is most important to the op, the bank does not accept good deeds enlieu of mortgage repayments

Ironically, I think the second biggest barrier to any rent reductions, after mortgage payment, is the RPZ regs. The legislation meant to prevent rent rises above a certain level, is now preventing rent reductions.

mrslancaster

Dav010 wrote: »

...Ironically, I think the second biggest barrier to any rent reductions, after mortgage payment, is the RPZ regs. The legislation meant to prevent rent rises above a certain level, is now preventing rent reductions.

Do you mean if a rent reduction is given then it can't be changed back - if the property is in an RPZ?

So any reduction must be registered with RTB & that's the new rent for the next 12 months & the basis for any future rent?

another poster said to have a written agreement that its a temporary reduction but would that make any difference to the RTB?

mrslancaster

mrslancaster wrote: »

Do you mean if a rent reduction is given then it can't be changed back - if the property is in an RPZ?

So any reduction must be registered with RTB & that's the new rent for the next 12 months & the basis for any future rent?

another poster said to have a written agreement that its a temporary reduction but would that make any difference to the RTB?

I guess the RTB will have to rule on that. If the reduction counts as a rent review and the lower rent as the new rental level on which future reviews are based, the LL gets shafted for their good deed.

PhilOssophy

Dav010 wrote: »

As famously said by Polonius, neither a borrower Nor a lender be.

You are in a lucky situation, which makes it easy for you to be generous with other people’s money. You can’t take a holiday from the bank, payments are just suspended for 3 months, but interest accrues over the remainder of the term, and the 3 months mortgage has to be paid back.

I am a borrower with a very large mortgage I will have you know.

Where was a being generous with other people's money - the OP asked a question and I answered it as I see it. Is that not the idea of his thread?

I am fully aware of the suspension of payments rules. I might need to take it up for all I know.

neckedit

Enter name here wrote: »

As i said I am neither your bank or family. Why do you and many others consider it a LL's responsibility to support you? I am genuinely intrigued by this. Is your supermarket offering you money off your shopping, is your garage offering you money off your fuel, is your health fund offering you cheaper premiums?
When other industries take such action then I may reconsider my position, until then it remains the same.

I am truly happy you are neither.

Banks have offered me a break, which I accepted but will continue to pay interest at my choice.

Fuel has come down from 128.9 a litre to 106.9 at my local station. A saving passed on by the vendors as barrel prices plummeted.

Grocery stores continue to have offers in store and let's face it in this climate are doing a pretty good job of keeping thing going.... but let's face it.... they will always make a few Bob.

Listen, I'm not saying your wrong and I'm right, this is just how I see the world at the minute.

James 007

Give them a rent reduction according to the RPZ Regs, I think 4% reduction, & tell them its a Covid reduction only, when the person has a job back raise it back the 4% again. But only give them this temporary reduction based on the below:

Scenario 1:
Based on your own calculation of what they are earning (one adult earning wage, one adult on covid payment of 350euro). If you feel they should be capable of paying then hold off on the above for now. If not give them the 4% reduction.

Scenario 2:
After 12 weeks the Covid payment ends. This is where they may have the difficultly in making payment. If you find that they are okay to make payment for Scenario 1, you could imply that the 4% reduction will kick in once Covid payment ceases.

pwurple

mrslancaster wrote: »

Just wondering how this works.

Afaik if there's any change in the tenancy it should be notified to RTB & that includes a change to the rent amount.
Does that mean the rent can't be increased back after Covid19 as according to the RTB records it would not comply with the 12 month & 4% rule?

is it not necessary to register any change with RTB during this?

I am not permanently making a change to rent, it is a temporary break and I expect to revert to normal afterwards. Extraordinary circumstances. No impact to the rental agreement etc. Faffing about with 4%’s is just playing silly beggars in my opinion. You’re just causing hardship to people and hiding behind beaurcracy. Good communication with the tenant, treating them fairly and expect to be treated fairly in return.


For those who mention wear and tear, I am actually seeing a little of that. More use on the kitchen appliances for example, so I do the usual, they buy the kettle or whatever and send me the receipt, then I reimburse them. A broken water heater too. The problem is the maintenance companies are also closed. So, I can’t get a repair done unless it is emergency. But the tenants are understanding of the circumstances.

PhilOssophy

PhilOssophy wrote: »

Where was a being generous with other people's money - the OP asked a question and I answered it as I see it. Is that not the idea of his thread?

I am fully aware of the suspension of payments rules. I might need to take it up for all I know.

Here. Taking a mortgage “holiday” will cost the op, and a reduction in rent may not be reversible, meaning the op will be financially worse off and may effect ability to pay mortgage.

PhilOssophy wrote: »

If you need to take a holiday from the bank to help them out, I would say do it.

We are all in this together, it is tough for everyone at the moment but sacrifices are being made all round.
)

James 007

James 007 wrote: »

Give them a rent reduction according to the RPZ Regs, I think 4% reduction, & tell them its a Covid reduction only, when the person has a job back raise it back the 4% again. But only give them this temporary reduction based on the below:

Scenario 1:
Based on your own calculation of what they are earning (one adult earning wage, one adult on covid payment of 350euro). If you feel they should be capable of paying then hold off on the above for now. If not give them the 4% reduction.

Scenario 2:
After 12 weeks the Covid payment ends. This is where they may have the difficultly in making payment. If you find that they are okay to make payment for Scenario 1, you could imply that the 4% reduction will kick in once Covid payment ceases.

Does the RTA or new emergency legislation allow for the new rent level to be viewed as temporary and reviewable within a 12 month period?

Graham

I don't think there's any need to adjust rents permanently yet, or rewrite contracts based on any formula.

The expectation appears to be more of a deferral of rent rather than a reduction:

The emergency measures being announced today complement those announced by the 5 main retail banks yesterday, in relation to the flexibility – such as 3 month mortgage breaks – which will be offered to those with buy-to-let mortgages whose tenants have been impacted by the virus. It is the Government’s expectation that landlords will pass that flexibility on their tenants. Tenants are encouraged to engage with their landlords as quickly as possible if they are facing difficulties.

While tenants will be expected to pay rent during this period, income supports and Rent Supplement is available to those struggling to do so. These supports are provided by the Department of Employment Affairs and Social Protection. Any rent arrears built up will be payable, but landlords have been asked to show forbearance and reach local arrangements in such circumstances.

Any other approach has potential to confuse

neckedit

Dav010 wrote: »

It is easy, and hard to resist, the feeling of being morally superior when it comes to what you think other people should do with their money in situations like this. The op has a mortgage to pay, that is what is most important to the op, the bank does not accept good deeds enlieu of mortgage repayments

Ironically, I think the second biggest barrier to any rent reductions, after mortgage payment, is the RPZ regs. The legislation meant to prevent rent rises above a certain level, is now preventing rent reductions.

I am not at all trying to be morally superior to any one.
And I'm not telling anyone what they should do. I am simply saying if we all get some breaks let's pass them on. Personally I have accepted a break from a large personal loan from the bank. This ensures I can pay my rent... I suppose there is a certain Irony in that as I may come across anti landlord, which I am not BTQ

cannotlogin

I think you get what you give.

My landlord never raised my rent in the last number of years. I suspect mainly because I've never given him a minute hassle.

There's no way in hell I won't be paying him the full rent during this period, even if it means dipping into savings.

bigpink

bigpink wrote: »

If one good thing of this Covid19 i hope it ruins nasty smug landlords

How would it without thousands of renters dropping dead. In reality people still need to live inside.

I rented a property out for a few years, never again and anyone moving that asks me I tell them the same thing, how much stress for limited return to do want?

mrslancaster

mrslancaster wrote: »

Do you mean if a rent reduction is given then it can't be changed back - if the property is in an RPZ?

So any reduction must be registered with RTB & that's the new rent for the next 12 months & the basis for any future rent?

another poster said to have a written agreement that its a temporary reduction but would that make any difference to the RTB?

The last paragraph as a guestimate. If you reduce, it's a new agreement and probable what any future increase will be based on.

JimmyVik

OP. Given whats going on at the moment why not give them a break.
I understand you cannot reduce the rent or you might be stuck on a lower rent and you never know what legislation to screw you over is around the corner.

So why not tell them they can use 1 fifth of their deposit for the next 5 months.
So they are paying the full rent but only 4/5 of it is coming out of their pocket at the moment.
After 5 months they have zero deposit left which then has to be built back up by them.
Then tell them they can build the deposit back up for the following 10 months after that.
eg full rent plus 10% for 10 months. And then their deposit is back.

That way nobody is out of pocket and they got a 5 month reduction which they make up over the following 10 months and you are all back square.

Obviously choose figures that suit you and get it all in writing and record every payment etc.